Someone else will have to answer your question about Toast although it will convert to a wide variety of QuickTime playable formats. I just want to suggest your asking about this (or searching for an existing thread) in the Final Cut Pro forum at discussions.apple.com. You'll learn what is working best for others.

I'm just a fellow Toast-user so please don't blame Roxio for any misguidance I may provide. And do let me know if your issue gets solved. Cheers from Eugene, Oregon!

Can Toast 9 convert AVCHD .MTV files to .MOV or any other file type Final Cut Pro will accept? If so, how quickly will it do it? I have a non-intel Mac.

Yes - but it is fraught with difficulty.

The ideal way to do this is to take the .mts files from your AVCHD camera, add them to the Convert section of Toast and select Video Files. Then select QuickTime movie and under video settings and select Settings. Choose Apple Intermediate Codec. Under size select the size of your file (most likely 1920*1080 HD). Then under Sound settings select Linear PCM.

Why is this a bad idea? Well, for some reason QuickTime conversion limits converting into AIC at any quality higher than "Medium" and I have not found a way to change that. The better option is to use Voltaic. Google it, it produces much better looking (aka higher bitrate) files that are Final Cut ready.